Cable Update (GBPUSD) | Page 14425 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #288,481
  • Sep 13, 2011 1:53pm Sep 13, 2011 1:53pm
the asian session could be interesting - geppy starts lookin worth a buy to me - maybe one final drop first - but this level is going to be seen again (within some days, maybe some weeks)

same on GU - longs shouldn't be too risky at a price like this

but let's see first what the asians are going to do...
  • #288,482
  • Sep 13, 2011 1:59pm Sep 13, 2011 1:59pm
Quoting 853efx
same on GU - longs shouldn't be too risky at a price like this
Every level is risky if you dont trade with stop loss because you wont never know where the price will be heading

anyway,I think we might see another 1.5750


Cheers and Trade Well
If there was easy money lying around,no one would be forcing it into your
  • #288,483
  • Sep 13, 2011 2:45pm Sep 13, 2011 2:45pm
placed a first long @ 1.5798

no TP yet / stop ~1.57

may place another long during the next london session - depends on PA
  • #288,484
  • Sep 13, 2011 3:09pm Sep 13, 2011 3:09pm
Quoting FXMindset
Every level is risky if you dont trade with stop loss because you wont never know where the price will be heading

anyway,I think we might see another 1.5750


Cheers and Trade Well
I have 1.5718, but maybe it won't go that deep.
  • #288,485
  • Sep 13, 2011 3:11pm Sep 13, 2011 3:11pm
Quoting 853efx
the asian session could be interesting - geppy starts lookin worth a buy to me - maybe one final drop first - but this level is going to be seen again (within some days, maybe some weeks)

same on GU - longs shouldn't be too risky at a price like this

but let's see first what the asians are going to do...
Geppy sure is... but I am still sitting on my hands! It is making a double bottom on h1 right now, but with no volume, I will pass. Technically it could still go to 118.85.
  • #288,486
  • Sep 13, 2011 3:26pm Sep 13, 2011 3:26pm
Understand the Bigger Picture of Forex. China, India, Brazil, etc have the strongest economies for now. The world's largest Forex reserves reside in Asia, and that is where the strength is.
The timing of your trades is crucial.
What leverage are you using? Use smaller lot sizes and keep cash on the side to ride volatility.
Europe, Britain and the U.S. are stagnant or in trouble. ECB will cut rates, and further weaken the euro.
If the euro and gbp go up, sell it, especially against the aud, cad, and nzd.
Risk Sentiment is very shaky right now.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp aud.gif Size: 25 KB
  • #288,487
  • Sep 13, 2011 3:48pm Sep 13, 2011 3:48pm
Quoting ovaforty
Understand the Bigger Picture of Forex. China, India, Brazil, etc have the strongest economies for now. The world's largest Forex reserves reside in Asia, and that is where the strength is.
The timing of your trades is crucial.
What leverage are you using? Use smaller lot sizes and keep cash on the side to ride volatility.
Europe, Britain and the U.S. are stagnant or in trouble. ECB will cut rates, and further weaken the euro.
If the euro and gbp go up, sell it, especially against the aud, cad, and nzd.
Risk Sentiment is very shaky right now.
Very true but aren't China diversifying with talks of buying businesses in the EZ and supporting the Euro or do you regard these as rumours. Australia is a two tier economy with only mining still booming. China has its own problems with rising inflation and the property bubble may be about to burst that might slow down their double digit growth which will cause a knock-on effect. UCAD is strengtening, equities are bearish, bonds are expensive and provide little to no yield (unless you got Greek ones... lol). Sure, the BRIC countries are the strongest economies right now but they also need the Western economies to sustain this growth.

I will play it as I see it and take each day as it comes. Success with those nice trades of yours. I hope you find the bottom with them.
  • #288,488
  • Sep 13, 2011 3:48pm Sep 13, 2011 3:48pm
I booked profits on short gbp/cad and will wait for the next retrace up to the yellow 5 sma on this 4 hour chart.
Discipline
Patience
Money Management
Attached Image (click to enlarge)
Click to Enlarge Name: gbp cad.gif Size: 23 KB
  • #288,489
  • Sep 13, 2011 3:52pm Sep 13, 2011 3:52pm
The weekly chart shows that the gbp/usd has broken support provided by the aqua colored 100 sma. Lots of downside to this pair. Why do newbies wanna pick bottoms?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd weekly chart.gif Size: 26 KB
  • #288,490
  • Sep 13, 2011 3:55pm Sep 13, 2011 3:55pm
Daily chart shows a lower low from yesterday's candle.
It also shows the double bottom formation has broken with a lower low.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd daily chart.gif Size: 29 KB
  • #288,491
  • Sep 13, 2011 4:00pm Sep 13, 2011 4:00pm
4 hour chart zigzag indicator is showing wave 5 down.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 4 hour chart.gif Size: 24 KB
  • #288,492
  • Sep 13, 2011 4:00pm Sep 13, 2011 4:00pm
Quoting ovaforty
The weekly chart shows that the gbp/usd has broken support provided by the aqua colored 100 sma. Lots of downside to this pair. Why do newbies wanna pick bottoms?
I'm gona argue against you...need to see how Week closes... it might just be a wick bottom and fail to break below this Aqua EMA of yours... fundamental-wise i just dont see why the GBPUSD is falling more than the EURUSD... if anything the GBP has a much more stable economy that the EUR... I personally think GBPUSD would best fit consolidating rather than falling more than the EURUSD...
I'm going to associate this to Pre-Marke Resume(from the long holidays we had) big boys havent all come back yet and those whose came back are starting the market with a slight kick...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #288,493
  • Sep 13, 2011 4:02pm Sep 13, 2011 4:02pm
Quoting bbakker
Very true but aren't China diversifying with talks of buying businesses in the EZ and supporting the Euro or do you regard these as rumours. Australia is a two tier economy with only mining still booming. China has its own problems with rising inflation and the property bubble may be about to burst that might slow down their double digit growth which will cause a knock-on effect. UCAD is strengtening, equities are bearish, bonds are expensive and provide little to no yield (unless you got Greek ones... lol). Sure, the BRIC countries are the strongest...
China has weakened to a sustainable level of GDP growth. They are buying everything.
  • #288,494
  • Sep 13, 2011 4:03pm Sep 13, 2011 4:03pm
Quoting bguguen
I'm gona argue against you...need to see how Week closes... it might just be a wick bottom and fail to break below this Aqua EMA of yours... fundamental-wise i just dont see why the GBPUSD is falling more than the EURUSD... if anything the GBP has a much more stable economy that the EUR... I personally think GBPUSD would best fit consolidating rather than falling more than the EURUSD...
I'm going to associate this to Pre-Marke Resume(from the long holidays we had) big boys havent all come back yet and those whose came back are starting the market...
Well said.
  • #288,495
  • Sep 13, 2011 4:19pm Sep 13, 2011 4:19pm
Quoting ovaforty
China has weakened to a sustainable level of GDP growth. They are buying everything.
Of course they are buying everything... to them the world is at basement bargain prices right now. You buy in recessions and sell when it's booming.
  • #288,496
  • Sep 13, 2011 4:21pm Sep 13, 2011 4:21pm
Quoting bbakker
Of course they are buying everything... to them the world is at basement bargain prices right now. You buy in recessions and sell when it's booming.
You are correct.
  • #288,497
  • Sep 13, 2011 4:32pm Sep 13, 2011 4:32pm
Quoting ovaforty
The weekly chart shows that the gbp/usd has broken support provided by the aqua colored 100 sma. Lots of downside to this pair. Why do newbies wanna pick bottoms?
We have demand here, but granted the demand is weak. 1.53-1.54 is a much better area for longer-term longs in my eyes... if it holds that is. I am expecting a bounce here and see how the weekly finishes as bguguen stated earlier. I prefer to get short on this pair higher up. I am currently flat on this pair.
  • #288,498
  • Sep 13, 2011 4:34pm Sep 13, 2011 4:34pm
i agree
  • #288,499
  • Sep 13, 2011 4:41pm Sep 13, 2011 4:41pm
The 15 min chart is showing a crossover up of the yellow 5 sma (close price) and the orange-red 5 sma (open price).

The usual Asian Session squeeze is a fairly reliable pattern.


1.5800/1.5830 would be my guess for a scalp up.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 15 min chart.gif Size: 28 KB
  • #288,500
  • Sep 13, 2011 5:00pm Sep 13, 2011 5:00pm
Quoting ovaforty
The 15 min chart is showing a crossover up of the yellow 5 sma (close price) and the orange-red 5 sma (open price).

The usual Asian Session squeeze is a fairly reliable pattern.


1.5800/1.5830 would be my guess for a scalp up.
Here is my take. Agree with the scalp up, but I am having an early one tonight, so I'm out. Let's see where Asia takes it.

Attached Image (click to enlarge)
Click to Enlarge Name: 111309_GU_m15.png Size: 66 KB


Good hunting! See ya soon.
587 traders viewing now, 4 are registered:
Price369
,
luisinho
,
cobblecop
,
F.g